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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 49,018 $ 175,902 $ 173,975
Adjustments to reconcile net income to net cash provided by operating activities      
Stock-based compensation 29,635 26,539 24,148
Depreciation and amortization 33,437 20,010 15,501
Amortization of debt issuance costs 1,176 0 0
(Gain)/loss on disposal of fixed assets (150) 112 204
Impairment of intangibles 6,300 10,335 6,520
Deferred taxes (4,669) (4,703) 6,105
Loss on divestiture of business 0 3,199 0
Accrued interest on note receivable – related party 0 0 8
Note receivable - related party 0 0 409
Change in valuation of contingent payment liability (5,580) 2,722 0
Amortization of inventory step-up and other 30,679 (575) (23)
Changes, net of acquisitions, in:      
Accounts receivable (10,551) (6,947) (1,308)
Factor accounts receivable 39,674 (31,542) (18,647)
Inventories 4,425 (30,567) 25,303
Prepaid expenses, income tax receivables, prepaid taxes, and other assets (8,314) 133 (1,060)
Accounts payable and accrued expenses 9,891 37,339 7,052
Accrued incentive compensation (8,833) 3,118 280
Leases and other liabilities (3,939) (6,979) (8,061)
Payment of contingent liability 0 0 (1,153)
Net cash provided by operating activities 162,199 198,096 229,237
Cash flows from investing activities:      
Acquisition of businesses (371,554) (13,976) (75,271)
Capital expenditures (42,658) (25,911) (19,470)
Purchases of short-term investments 0 (21,405) (25,688)
Maturity/sale of short-term investments 13,553 22,139 25,872
Other investing activities (260) (340) (5,335)
Net cash used in investing activities (400,919) (39,493) (99,892)
Cash flows from financing activities:      
Borrowings under credit facilities 467,500 0 0
Repayments under credit facilities (227,500) 0 0
Cash dividends paid on common stock (60,962) (61,039) (63,177)
Common stock repurchased and net settlements of stock awards (13,523) (98,433) (142,348)
Financing costs paid (8,955) 0 0
Investment of noncontrolling interest 3,500 0 4,486
Distributions to noncontrolling interest earnings 2,946 0 1,102
Proceeds from exercise of stock options 32 1,613 1,205
Acquisition of incremental ownership of joint ventures 0 (1,500) 0
Payment of contingent liability 0 (8,547) 0
Net cash provided by / (used in) financing activities 157,146 (167,906) (200,936)
Effect of exchange rate changes on cash and cash equivalents 4,073 (5,413) 1,518
Net change in cash and cash equivalents (77,501) (14,716) (70,073)
Cash and cash equivalents – beginning of year 189,924 204,640 274,713
Cash and cash equivalents – end of year 112,423 189,924 204,640
Supplemental disclosure of cash flow information:      
Cash paid during the year for interest $ 11,699 $ 0 $ 0